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March 3, 2003

SOUTH KOREA: GM-Daewoo February sales slip 3%

GM Daewoo Auto & Technology said on Monday that February sales fell 3% to 34,311 units in February from a year earlier, Reuters reported.

By bcusack

GM Daewoo Auto & Technology said on Monday that February sales fell 3% to 34,311 units in February from a year earlier, Reuters reported.

Unlisted GM Daewoo said exports slipped to 22,642 units last month from 23,719 a year before, Reuters said, adding that the firm gave no reason for the decline in sales and exports.

General Motors and partners acquired a majority stake in ailing Daewoo Motor last year and plan to produce around 400,000 cars this year, up around a third from 2002, Reuters noted.

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